Homework Answers
Answer- Total long-term assets = $3179060.
Explanation-Working capital = Current assets-Current liabilities
$485900 =Current assets-$347040
Current assets = $485900+$347040
= $832940
Debt-to-equity ratio = Total liabilities/Stockholders' equity
0.36 =($347040+$714960)/ Stockholders' equity
Stockholders' equity= ($347040+$714960)/0.36
= $2950000
Total assets = Total liabilities+ Stockholders' equity
Current assets + Long term assets = Current liabilities+ Long term liabilities+ Stockholders' equity
$832940+ Long term assets =$347040+$714960+$2950000
Long term assets = ($347040+$714960+$2950000)-$832940
=$3179060
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